XRP Poised for Rally as SEC Decision and ETF Hopes Grow

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XRP is holding firm above $3 as investors look ahead to a pivotal US Securities and Exchange Commission (SEC) meeting that may determine the token’s near-term future. With optimism building over a possible SEC retreat in its ongoing legal battle with Ripple, and growing momentum behind an XRP-based exchange-traded fund (ETF), market confidence in the digital asset appears to be strengthening.

The cryptocurrency market has seen a notable rebound in recent weeks, driven largely by institutional interest in spot ETFs. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have all surged following strong capital inflows into their respective ETF products. In this context, attention has turned to XRP, particularly as BlackRock, one of the world’s largest asset managers, has applied to launch an iShares XRP Trust, a move widely seen as a precursor to a full-fledged XRP-spot ETF.

While the SEC has yet to comment publicly on its appeal in the high-profile Ripple case, the agency’s closed meeting scheduled for 31 July could be a turning point. A vote to withdraw the appeal would clear a major legal hurdle and likely pave the way for ETF approval. The anticipation has already helped XRP climb 43% in July, outperforming BTC and SOL, though still trailing ETH’s 52% surge.

BlackRock’s success in leading the crypto-spot ETF space with its iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) further fuels speculation that an XRP product is next. Should the SEC stand down, many analysts believe XRP could rally beyond its current resistance levels. Technical indicators support this outlook, with the token trading comfortably above both its 50-day and 200-day Exponential Moving Averages (EMAs). A breakout above $3.30 could push XRP toward its July 18 high of $3.66 and potentially beyond.

However, broader macroeconomic conditions remain a factor. Concerns over international trade and monetary policy from the Federal Reserve could still influence investor sentiment. A more accommodative policy stance or positive trade developments may serve as tailwinds for crypto markets in general.

Looking forward, developments surrounding the SEC’s decision, the progress of the iShares XRP Trust application, and updates related to the proposed CLARITY Act will be critical in shaping XRP’s trajectory. If regulatory clarity aligns with investor appetite, XRP could be on the verge of another major breakout.